{
  "ticker": {
    "uuid": "78567b5c-ee93-4da9-8365-54f7fad6aa91",
    "symbol": "4972",
    "name": "Tons Lightology Inc.",
    "exchange": "TWO",
    "country": "TW",
    "assetType": "equity"
  },
  "methodBoundary": "Trend Architecture is a weekly structural classification, not a forecast, probability of return, recommendation or execution signal. Confidence measures geometric agreement and external confirmation only.",
  "analysis": {
    "eligible": true,
    "as_of": "2026-08-14",
    "benchmark": "^TWII",
    "stage": 4,
    "stage_name": "Declining",
    "phase": "4b",
    "phase_label": "Stage 4B \u00b7 Declining",
    "transition": "stage_4_declining",
    "transition_label": "Stage 4 decline intact",
    "confidence": 62.959,
    "architecture_regime": "downward_expansion",
    "architecture_regime_label": "Downward Expansion",
    "architecture_modifier": "Early contraction",
    "architecture_gate": "down",
    "architecture_direction": -53.813,
    "architecture_energy": 48.146,
    "architecture_maturity": 6.558,
    "architecture_confidence": 82.4,
    "architecture_tenure": "New",
    "architecture": {
      "interpretation": {
        "headline": "The weekly architecture is expanding downward.",
        "body": "Trend and Activity show sustained negative alignment with weak price acceptance. Repair requires persistent improvement across the structure, not merely one strong observation."
      },
      "scores": {
        "balance": 35.43,
        "rotation_up": 12.46,
        "upward_expansion": 8.31,
        "deceleration": 41.86,
        "rotation_down": 62.18,
        "downward_expansion": 81.65
      },
      "activity_lines": [
        16.54,
        16.692727,
        16.711905,
        16.869463
      ],
      "activity_state": "Moderate",
      "activity_direction": "Expanding",
      "rotation_direction": "Weakening",
      "price_acceptance": -0.666667
    },
    "latest_close": 16.6,
    "trend_reference": 17.148333,
    "distance_from_trend": -0.031976,
    "trend_direction": "Weakening",
    "fair_value": 22.347229,
    "distance_from_fair_value": -0.257179,
    "fair_value_direction": "Improving",
    "relative_strength": -33.148866,
    "relative_strength_direction": "Improving",
    "price_momentum": -0.077778,
    "excess_performance": -0.51915,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": false,
        "value": -0.031976,
        "read": "Below"
      },
      {
        "label": "Trend direction",
        "positive": false,
        "value": -0.026308,
        "read": "Falling"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": false,
        "value": -0.257179,
        "read": "Below anchor"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.036415,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": false,
        "value": -0.331489,
        "read": "Lagging"
      },
      {
        "label": "Relative strength direction",
        "positive": true,
        "value": 0.064685,
        "read": "Improving"
      },
      {
        "label": "Price momentum",
        "positive": false,
        "value": -0.077778,
        "read": "Negative"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 3.567987,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 51220,
      "relative_activity": 0.274762,
      "balance": 3.567987,
      "dry_up": 0.424025,
      "accumulation_observations": 2,
      "distribution_observations": 0
    },
    "risk": {
      "range_context": 0.031511,
      "annualized_volatility": 0.102411,
      "from_high_reference": -0.15736,
      "from_low_reference": 0.027864
    },
    "levels": {
      "trend_reference": 17.148333,
      "fair_value_reference": 22.347229,
      "structural_low": 16.15,
      "invalidation": "Reclaiming a flat-to-rising Trend with improving relative strength is required before the declining diagnosis is repaired."
    },
    "outcomes": [
      {
        "horizon": "Near term",
        "sample_count": 30,
        "median_return": -0.004616,
        "positive_rate": 0.366667,
        "directional_follow_through": 0.633333,
        "median_excess_return": -0.013099,
        "regime_survival": 0.833333,
        "best_return": 0.102396,
        "worst_return": -0.101761,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 10,
        "median_return": -0.008175,
        "positive_rate": 0.4,
        "directional_follow_through": 0.6,
        "median_excess_return": -0.05896,
        "regime_survival": 0.6,
        "best_return": 0.037838,
        "worst_return": -0.168646,
        "sufficient": true
      },
      {
        "horizon": "Extended",
        "sample_count": 6,
        "median_return": 0.021545,
        "positive_rate": 0.666667,
        "directional_follow_through": 0.333333,
        "median_excess_return": -0.121199,
        "regime_survival": 0.333333,
        "best_return": 0.073409,
        "worst_return": -0.28586,
        "sufficient": true
      },
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        "horizon": "Full cycle",
        "sample_count": 4,
        "median_return": -0.035121,
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        "median_excess_return": -0.282809,
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        "best_return": 0.090123,
        "worst_return": -0.246913,
        "sufficient": false
      }
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        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
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        "end": "2023-07-14",
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        "active": false
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        "color": "orange",
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        "regime": "downward_expansion",
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        "return": 0.028318,
        "active": false
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      {
        "regime": "rotation_up",
        "label": "Rotation Up",
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        "return": 0.038394,
        "active": false
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      {
        "regime": "upward_expansion",
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        "color": "green",
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        "end": "2024-04-05",
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        "return": -0.009602,
        "active": false
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      {
        "regime": "deceleration",
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        "active": false
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        "end": "2025-10-24",
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        "date": "2026-05-01",
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      {
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      },
      {
        "date": "2026-07-10",
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      },
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      },
      {
        "date": "2026-07-24",
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        "fair_value": 22.543612,
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        "stage": 4,
        "regime": "balance",
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        "energy": 22.568328,
        "activity_lines": [
          16.8,
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          17.00785
        ]
      },
      {
        "date": "2026-07-31",
        "close": 16.5,
        "volume": 151712,
        "typical_volume": 190318.25,
        "trend": 17.243334,
        "fair_value": 22.477434,
        "relative_strength": -31.265342,
        "stage": 4,
        "regime": "balance",
        "modifier": "Balance after decline",
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        "direction": -47.902486,
        "energy": 35.021627,
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          16.663333,
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          16.956022
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      },
      {
        "date": "2026-08-07",
        "close": 16.5,
        "volume": 76198,
        "typical_volume": 189360.15,
        "trend": 17.198334,
        "fair_value": 22.412162,
        "relative_strength": -32.067564,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -55.787228,
        "energy": 52.35135,
        "activity_lines": [
          16.553333,
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          16.908065
        ]
      },
      {
        "date": "2026-08-14",
        "close": 16.6,
        "volume": 51220,
        "typical_volume": 186416.0,
        "trend": 17.148333,
        "fair_value": 22.347229,
        "relative_strength": -33.148866,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -53.813485,
        "energy": 48.1459,
        "activity_lines": [
          16.54,
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          16.869463
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      }
    ],
    "method": {
      "price_basis": "completed market observations",
      "trend": "Trend provides the primary directional reference.",
      "fair_value": "Fair Value provides long-term price context and is not a forecast or target.",
      "relative_strength": "Relative Strength shows leadership or lagging performance against the market benchmark.",
      "classification": "The SM framework combines Trend, Activity, Fair Value, Relative Strength and participation into a structural read."
    }
  }
}